Today Is "Bridge Day"
Why it matters: President Trump's 8 PM ET deadline for Iran could trigger strikes on infrastructure, impacting global oil prices and trade.
- President Trump issued an ultimatum to Iran via Truth Social, threatening 'Power Plant Day' and 'Bridge Day' strikes on infrastructure if the Strait of Hormuz is not opened by 8 PM ET.
- Iran has reportedly issued a 'maximalist' 10-point peace plan via intermediaries, which Trump deemed 'significant' but 'not good enough,' while Israeli PM Netanyahu warned against a ceasefire.
- Axios reported slim prospects for a 45-day ceasefire between the US and Iran, suggesting a return to 'escalate to de-escalate' dynamics.
- WTI front future is up 0.7% to $113.15/bbl, while dated-Brent closed at $141.26/bbl, reflecting a wide spread and rising oil prices amid escalating tensions.
- US equity futures are slightly negative, ten-year sovereign yields are lower, and Bitcoin is selling off after a recent rally, with haven buying evident in precious metals, the Swiss Franc, and Japanese Yen.
Today marks 'Bridge Day,' a deadline set by President Trump for Iran to open the Strait of Hormuz, threatening strikes on infrastructure if a deal isn't reached by 8 PM ET. While Trump calls Iran's new 10-point peace plan 'significant' but 'not good enough,' Axios reports slim prospects for a 45-day ceasefire, pushing markets into 'escalate to de-escalate' territory amid mounting infrastructure damage.
